NNPC Imports 19 Billion Litres of Petrol into Nigeria

By Adedapo Adesanya The Minister of Solid Minerals Development, Mr Dele Alake, has assured foreign investors of low production costs as they consider investing in the country’s mining sector. Speaking at the Mines and Money Conference in London, Mr Alake said President Bola Tinubu has embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors. “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations,” the Minister said, according to a statement by his aide, Mr Kehinde Bamigbetan. “Recently, recognizing the evolving global landscape and

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

By Sodeinde Temidayo David Leading Artificial Intelligence (AI) hub, Data Science Nigeria (DSN), has announced the launch of the country’s first AI Startup Incubation and Research Centre. The launch also included a bespoke AI Startup Summit which was themed Building Nigeria’s Artificial Intelligence Unicorns, under the topic titled How to build scalable startups leveraging AI and exponential technologies. With the launch of the new AI startup incubation hub, the organization is set to promote its vision to build a world-class AI, knowledge research and innovation ecosystem that would deliver high-impact transformational research. Speaking at the event, the founder and lead

By Dipo Olowookere Nigerian stocks maintained an upward trajectory on Tuesday with a 0.60 per cent growth on a day the Central Bank of Nigeria (CBN) announced a further rate hike by 100 basis points to 16.5 per cent. On Monday, the central bank commenced its last Monetary Policy Committee (MPC) meeting for 2022, and the market was expecting the outcome of the deliberations yesterday. At almost the time the Nigerian Exchange (NGX) Limited was closing for the day, the CBN Governor, Mr Godwin Emefiele, informed reporters in Abuja that the majority of the committee’s members voted to raise the

By Dipo Olowookere Plans have been concluded to have one of the leading airline operators in Africa, Ethiopian Airlines, commence flight operations from the Kaduna International Airport. Management of the company, Business Post gathered, was in Kaduna State on Tuesday, July 4, 2017, to have a meeting with the state government on how to finalise this. During the meeting, Ethiopian Airlines management assured Governor Nasir El-Rufai, of quality service. The Governor was applauded for creating a conducive environment for investments in Kaduna State. Information gathered by our correspondent revealed that the airline has concluded plans to begin flights operations from

By Modupe Gbadeyanka Larsen & Toubro Infotech Ltd, a global technology consulting and digital solutions company, has launched its new brand identity as LTI. Encapsulated in the tagline ‘Let’s Solve’, LTI looks to partnering with clients to help them compete better in a world where digital and physical are converging. The core idea of the brand, ‘Pioneering Solutions in a Converging World’ drives entire organization to design, innovate and invest in solutions that help clients accelerate digital transformation. The new brand identity of LTI exemplifies the rapid progress made by the company across all dimensions during last several quarters. The

By Modupe Gbadeyanka The board of directors of Access Bank Plc has announced a closed period for the trading in the financial institution’s securities on the floor of the Nigerian Stock Exchange (NSE). A statement issued on Friday said the restriction period will begin from July 6, 2019 to when the lender releases the audited financial statements of the bank for the half year ended June 30, 2019. Before the results are filed to the NSE, the board will have a meeting fixed for Friday, July 26, 2019, so as to scrutinise the books and possibly see if an interim

By Modupe Gbadeyanka Nigeria’s House of Representatives has explained the main reason behind the controversial NGO Regulation Bill. In a statement issued on Friday by the Deputy Majority Leader of the House of Representatives, Mr Umar Buba Jibril, the lower chamber of the National Assembly noted that religious bodies and organizations are not part of the affected organisations. “Our quasi financial institutions at local levels are NOT NGOs! These organizations have existed for centuries to serve businesses and commerce of our market women and traders. “Now NGOs (Non-Governmental Organizations) and CSOs (Civil Society Organizations) are voluntary organizations that are registered

By FBNQuest The Nigerian investment market is rich and viable, with the money market yields relatively high and quite attractive compared to global interest rates. There has never been a better time for Nigerians, as well as foreign investors, to tap into the strength of the Nigerian investment story. The bonds market is on a strong growth course, equities have a strong long-term potential, and investment options are attractive for offshore investors. If you are looking for new ways to invest your US Dollars (USD) in the ever-changing economic environment, the FBN Nigeria Eurobond (USD) Fund is a credible option.

By Dipo Olowookere Wife of the President, Mrs Aisha Buhari, has restated her resolve to contribute to the reduction of the level of poverty in the country and ensuring self-reliance among Nigerian women. She was flagging-off a Women Empowerment Programme of Future Assured Programme, organized in partnership with the National Directorate of Employment (NDE) at Uyo, Akwa Ibom State, Mrs Buhari, while addressing a massive crowd said 11,600 women and youth would benefit from the programme and 1,500 women and youths would be trained on vocational skills, while 1,000 others undergoing training would be given starter packs and a sum